Replies to post #73108 on Crednology Holding Corp (fka COHO)

[Vincent1974]

does anyone know?

[pb_trading]

Sounds like COHO will announce the name when it closes. Pretty sweet deal....

Acquisition will Increase Our Cloud Computing Revenue and EBITDA

Northridge, CA, May 10, 2018 (GLOBE NEWSWIRE) -- Crednology Holding Corp. (OTC Pink: COHO; "Crednology"). Crednology is pleased to announce the acquisition of a company in the cloud computing business. We have been negotiating this transaction for some time and have finally agreed terms and the transaction will close on May 31, 2018.

Orie Rechtman, CEO of Crednology Holding Corp. commented, “I am excited to confirm that we have reached a final agreement on this transaction. We have been negotiating for some time but our due diligence process resulted in a very significant lowering of the purchase price. Last year the target company went through restructuring, after the company saw a significant reduction of revenues. This occurred due to their two largest clients, responsible for 70% of their total revenue, not renewing their contracts and bringing IT support in-house. We continued to watch the company making sure that the remaining revenues and client base were stable before we entered into a final agreement. We are confident we can increase the Company’s revenues by offering many of the added services we provide. Furthermore, the Company that has been in business for many years has a stellar reputation and together with our marketing efforts, we believe will result in the addition of more customers. We anticipate adding a minimum of $60-70,000 per year to our bottom line profit. We continue to look for other opportunities that will enhance revenues and EBITDA.”

$COHO